Grayd Reports Promising Metallurgical Testwork From Tarachi Gold Porphyry
28 April 2011 - 1:42AM
Marketwired
Grayd Resource Corporation (TSX VENTURE: GYD) ("Grayd") reports an
average gold recovery of 79% from nine cyanide bottle roll leach
tests on material from the newly discovered Tarachi gold porphyry.
The cyanide bottle roll leach tests were completed by Kappes
Cassiday and Associates (KCA) of Reno, Nevada. Each sample tested
was a composite made from the assay rejects of 4 samples within a
specified range from individual drill holes. Samples were chosen to
provide a distribution in area, depth and gold grade. All tests
were performed on 1 kilogram of material pulverized to 0.075 mm and
were leached for 4 days. Individual test results ranged from a low
of 61% gold recovery to a high of 95%. Cyanide consumptions of 0.09
to 0.70 kg/tonne were relatively low.
Marc Prefontaine, President and CEO of Grayd, stated: "These
metallurgical results are very positive as they indicate the
majority of the gold at Tarachi can be recovered by relatively
simple processes. Further work will be undertaken to evaluate
recovery versus particle size. By the end of this month, 3 drills
will be working on the property to continue testing this very large
system."
Tarachi - Cyanide Bottle Roll Leach Test Results
---------------------------------------------------------------------------
Calcu-
lated Extr- Avg Au Addi-
Head, acted, Tails, Extr- tion
From To gms gms gms acted NaCN, Ca(OH)2,
Sample Drill hole (M) (M) Au/MT Au/MT Au/MT % kg/MT kg/MT
---------------------------------------------------------------------------
TA-1 DDH-10-148 66.0 87.0 2.050 1.716 0.334 84% 0.49 4.00
---------------------------------------------------------------------------
TA-2 DDH-10-149 125.0 142.0 1.506 1.198 0.309 80% 0.19 3.25
---------------------------------------------------------------------------
TA-3 RC-10-582 158.5 169.2 0.567 0.457 0.111 81% 0.22 2.00
---------------------------------------------------------------------------
TA-4 RC-10-582 189.0 207.3 2.229 1.907 0.322 86% 0.15 4.00
---------------------------------------------------------------------------
TA-5 DDH-10-167 9.0 14.0 0.989 0.943 0.046 95% 0.47 6.50
---------------------------------------------------------------------------
TA-6 DDH-10-167 82.0 93.0 0.631 0.387 0.243 61% 0.09 3.00
---------------------------------------------------------------------------
TA-7 RC-10-585 82.3 102.1 0.580 0.355 0.225 61% 0.70 6.50
---------------------------------------------------------------------------
TA-8 RC-10-586 141.7 157.0 0.627 0.528 0.099 84% 0.11 1.75
---------------------------------------------------------------------------
TA-9 RC-10-588 39.6 48.8 1.811 1.427 0.384 79% 0.57 5.00
---------------------------------------------------------------------------
Mineralization at Tarachi is similar to porphyry-style gold
systems globally. Gold porphyries are characteristically of
moderate to low grade, but contain high tonnages that support large
mining operations. World-class gold porphyries of this type occur
in the Maricunga belt of Chile, where over 60 million ounces of
gold have been identified in 14 separate deposits.
The La India property is located in the prolific Mulatos gold
belt of Mexico's Sonora State. Tarachi is located 10 kilometers
north of the resource area that was analyzed in a recently reported
Preliminary Economic Assessment (PEA), and represents a separate
gold-rich mineral system. Results of the PEA, reported on October
21, 2010, show a 51% internal rate of return, a US$187 million net
present value (pre-tax, 5% discount rate), a 9-year mine life and
nearly 850,000 ounces of gold produced with an open pit mine and
heap leach extraction facility. Grayd has initiated feasibility
level work on this resource.
Hans Smit, P.Geo., VP Exploration for Grayd, is the Qualified
Person directing the exploration at La India. Samples are sent to
the ALS Chemex facility in Hermosillo for sample preparation, and
then to the ALS Chemex laboratory in Vancouver for gold assay and
ICP. QA/QC procedures used include assay standards and blanks. Test
work described in this news release was performed by Kappes
Cassiday and Associates in Reno, Nevada.
The information in this news release may contain forward-looking
statements. When used in this release, words such as "estimate",
"expect", "anticipate" and "believe" as well as similar expression
are intended to identify forward-looking statements. Such
statements are used to describe management's future plans, objects,
and goals for the Company and therefore involve inherent risks and
uncertainties. The reader is cautioned that actual results,
performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the
date the statements were made. The Company does not update
forward-looking statements continually as conditions change.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Grayd Resource Corporation Marc A. Prefontaine
President and CEO 604-681-7446 Grayd Resource Corporation Daniel G.
McIntyre Manager Corporate Communications 604-681-7446
www.grayd.com
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